Savings Account
Whatever your goal, we have a savings account to help you save smarter.
Competitive interest rates
Get a detailed look at the features across all of our savings accounts Compare savings accounts
Open a term deposit account.
Clever ways to save
Avoid the temptation to dip into your savings by hiding your account in The Vault.
Find out how much you could save and how to reach your goals faster.
Frequently asked questions
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders.
We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Contact us to get started, we’re here to help!
We’re all different, so we have a range of everyday accounts to help you manage your money in smart ways.
Follow the links below to view our other bank accounts and find the one that suits you best.
Switching to Great Southern Bank is easy. It only takes five minutes to open an account.
Once your account is open, we can help you switch your salary, direct debits, and regular payments to your brand-new Everyday Account.
Yes. Money placed in a savings account with a bank, building society or credit union is protected by the Australian Government’s Financial Claims Scheme (FCS).
The scheme protects deposits up to $250,000 per person, per financial institution. In the unlikely event that a financial institution closes you’ll have the peace-of-mind that your money is safe.
You can earn bonus interest on your savings when you have either a Goal Saver, Home Saver, Future Saver Account.
Goal Saver Account:
- Deposit a total of $500 (or more) via electronic transfer from a non-Great Southern Bank account into your Everyday Edge accounts; and
- Make five or more Visa debit card purchases from your Everyday Edge accounts each month.
Deposits of $500 or more could easily be achieved by having your pay transferred to your Everyday Edge account or by making a single payment of $500 or more each month from a non-Great Southern Bank account.
Your purchases can be made from multiple Everyday Edge accounts to qualify, as long as they total 5 or more per month.
Please note that bonus interest is awarded on balances up to $50,000 (the portion of your account balance over $50,000 will earn the base rate of interest).
Home Saver Account:
- Deposit a total of $2,000 (or more) via electronic transfer from a non-Great Southern Bank account into your Everyday Edge Accounts; and
- Make five or more Visa debit card purchases from your Everyday Edge accounts each month.
Deposits of $2,000 or more could easily be achieved by having your pay transferred to your Everyday Edge account or by making a single payment of $2,000 or more each month from a non-Great Southern Bank account.
Your purchases can be made from multiple Everyday Edge accounts to qualify, just as long as they total 5 or more per month.
Please note that bonus interest is awarded on balances up to $100,000 (the proportion of your account balance over $100,000 will earn the base rate of interest).
Future Saver Account:
- Increase the balance of your Future Saver Account by $250 before the end of each month (excluding interest payments, withholding tax and fees) to earn bonus interest.
Please note that the top rate of bonus interest is awarded on balances up to $500,000 (the portion of your account balance over $500,000 will earn the bonus interest rate for that balance tier).
Definitely! Customers can withdraw funds from their account at any time without losing their interest. This is true for the:
Yes, we have four accounts that can be opened in joint names. These are our Goal Saver, Home Saver, Future Saver and Everyday Saver accounts.
Keep in mind that each customer can only have one of each of the following account types: Goal Saver, Home Saver and Future Saver.
Please note, if you’re keen to earn bonus interest on your Goal Saver or Home Saver Accounts, any Everyday Edge Account in your name can be used to earn bonus interest. This means the deposits and transactions on an Everyday Edge Account in just your name or joint names can count towards the bonus interest criteria.
Absolutely. Simply download our mobile banking app to do your banking anywhere from the convenience of your phone.
Yes. Great Southern Bank Online Banking is easy to use, convenient and secure. As a new customer you'll be set up with online banking as soon as you open an account.
If you are already a customer, you can register for online banking in less than a minute and get started straight away.
We certainly do! We offer a range of different Term Deposits to help you achieve your savings goals, all with $0 monthly account or application fees.
We take security very seriously and have several features to keep your online and mobile banking safe and secure.
For starters, you’ll always need your customer number and password to log in to digital banking. You can also take advantage of our special features for extra security and peace of mind.
Our key security features include:
- Fingerprint login
- Facial login
- Transaction notifications
- Security questions
- The option to change your password at any time
While we take proactive steps to fight fraud, it’s important that our customers also take an active role in keeping their accounts secure.
Our online security checklist contains more tips and tricks to keep your account secure. And as always, never share your password with anyone.
Did you know we’re customer-owned?
That means no shareholders. Our profits go back into new products and clever ways to help you manage your money.
Our savings accounts have won awards, but our true passion lies in helping everyday Australians reach their financial goals. And we’ve been doing so for over 75 years!
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information, including the Terms and Conditions (T&Cs) booklet, before acting on it. The Financial Claims Scheme may apply to this product; refer to the T&Cs for more information.
Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.
Interest is calculated daily on whole balances and paid monthly.
Rates current as at 05 November 2024. Rates and bonus interest criteria are subject to change.
* Interest is calculated daily and paid monthly. The base rate of interest is payable on the whole balance held in your Goal Saver Account. Bonus interest is applied on top of the base rate on balances up to $50,000 in a calendar month if, prior to the last day of that calendar month:
A) You receive funds of $500 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank bank account into your Everyday Edge Account; and
B) At least 5 settled (not pending) Visa Debit card purchase transactions (card present and card not present transactions but excluding ATM withdrawals, balance enquiries, Bank@Post transactions, cash advances and EFTPOS cash out only transactions) have been processed from your Everyday Edge Account.
** Interest is calculated daily and paid monthly. The base rate of interest is payable on the whole balance held in your Home Saver Account. Bonus interest is applied on top of the base rate on balances up to $100,000 in a calendar month if, prior to the last day of that calendar month:
A) You receive deposits totalling $2,000 or more by electronic transfer (excluding telegraphic transfer) from a non-Great Southern Bank account into your Everyday Edge Account/s; and
B) At least 5 Visa Debit card purchases have been processed from your Everyday Edge Account/s and are not in pending status (excludes ATM withdrawals, EFTPOS cash out, balance enquiries and Bank@Post transactions).
*** Rate applies on a stepped basis. Interest paid at 5.50% p.a. on balances up to $5,000, then at 1.00% p.a. on that portion of the balance over $5,000.
^ Youth eSaver Account converts to the Goal Saver once you turn 18 years old.
> Future Saver: Applicants must be over the age of 18. Available to new and existing customers. Only one account per customer. Interest is calculated daily on whole balances and paid monthly. Rate applies on a stepped basis - each rate applies to the portion of the total balance that falls within that balance bracket. Refer to the interest rate schedule for current interest rates. Bonus interest is applied on top of the base rate if the balance of the Future Saver account increases by $250 by the end of each calendar month (excluding interest payments, withholding tax and fees).
^^ Everyday Saver: Available to new and existing customers. A maximum of six accounts per customer. Interest is calculated daily on whole balances and paid monthly. Rate applies on a stepped basis - each rate applies to the portion of the total balance that falls within that balance bracket. Refer to the interest rate schedule for current interest rates.
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